Single-Member LLCs and Schedule C

Single-Member LLCs and Schedule C

Are you a corporation? Do you find yourself breathing cash flow and snacking on accounts receivable, and was your birth recorded on your Articles of Incorporation? We’re just kidding; no living breathing person is a corporation (if you take away the living breathing part, it’s a different story). Regardless, you might be doing business as a corporation, and you might be the only person who works for this corporation. If this is the case, you are probably a Single-Member Limited Liability Corporation (SMLLC). Note: A married couple can also count as a single member for an SMLLC depending on the…
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What Are Monthly Reports?

What Are Monthly Reports?

Yet another asteroid hits your ship, shaking the giant machine. You and your crewmates brace yourselves against the nearest bulkhead (wall) and almost fall over. “Number One, ship status please,” you call across the room. “Hull is at 93%. We’ve evacuated hydroponics and closed the airlock. Our whole crew is safe, no injuries. We’re gonna lose some plants though. Clemens is gonna be pissed about his tomato garden.” Number One allows himself a chuckle. “As you know, seed storage is in the starboard wing so we’ll get the garden back up in no time. Shields are at 45% and rising.…
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Keeping Annual Meeting Minutes for Your PLLC/LLC

Keeping Annual Meeting Minutes for Your PLLC/LLC

Deposition Reporter: [reading off paper] "Mr. Scott, do you realize you just contradicted yourself?" "I did?" "Yes you did." "Can I go to the bathroom?" "No." "I really have to, I've been drinking lots of water." "You went five minutes ago." "That wasn't to go to the bathroom, that was to get out of a question." "You still have to answer it." "First can I go to the bathroom?" "No."~ “The Office” Season 4 Episode 12, “The Deposition” Taking notes is important. It got you through school (you did take notes, right?) and it helps you remember things that were…
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